U.S. recession fears ease as GDP and jobs data top expectations

The Bureau of Economic Analysis (BEA) of the U.S. Department of Commerce announced on Thursday (May 25) that real gross domestic product (GDP) grew by an annualized rate of 1.3% in the first quarter, slightly higher than the first estimate of 1.1%. This shows that the economy is growing faster than initially expected despite higher than initial inflation.

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